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1873-CC $1 AU55 NGC....

2008 April Rosemont, IL (CSNS) Signature Coin Auction #1104

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Auction Ended On: Apr 17, 2008
Item Activity: 11 Internet/mail/phone bidders
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Location: Rosemont, IL
Desirable Choice AU 1873-CC Dollar
1873-CC $1 AU55 NGC. The 1873-CC is the key to the Carson City Seated dollars. Among business strikes of the entire series, it is eclipsed by only the 1870-S and the non-existent 1873-S. The 1873-CC competes in terms of desirability with the original 1851 and 1852 dollars, which also have tiny mintages and low survival rates.
The 1871-CC has a lower production than the 1873-CC, but the latter is rarer. A clue for this is provided by Q. David Bowers in his 1993 tome Silver Dollars & Trade Dollars of the United States. Bowers wrote, "Mintage was 1,000 [pieces] in January and 1,300 [pieces] in March. R.W. Julian suggests the following: 'If the 2,300 were not called for by the silver depositor, it is likely that they would have been melted, and his bullion returned to him. It is my opinion, however, that all the coins were paid out and then perhaps redeposited for trade dollar coinage a few weeks later."
Another possibility for the rarity of the 1873-CC, relative to the lower mintage 1871-CC, is that the entire March delivery of 1,300 pieces was melted soon thereafter, shades of what happened to the ephemeral 1873-S. This scenario leaves only the 1,000 pieces delivered in January. Only one die pair is known, which re-uses the D reverse from 1870. It is possible that the second delivery might have been struck from a different die pair from the first, since there was up to five reverse dies to choose from.
PCGS population data suggests that survivors are approximately evenly spread between the grades of VG10 and AU55, and are extremely rare any finer. Only three pieces from either NGC or PCGS exceed MS61. The present coin lacks the field luster needed for a Mint State designation, but wear is subtle, and largely confined to Liberty's knees and cheek. At first glance, the piece appears Uncirculated, since the moderate golden-brown, ocean-blue, and plum-red toning is similar to that seen on some of the few existing high grade business strike Motto Seated dollars.
As expected of the AU55 level, the obverse field has a few unimportant marks. The reverse is smooth aside from a couple of small laminations near the motto. The eye appeal is imposing, and any Carson City specialist can appreciate the importance of the present offering.
From The Queller Family Collection of Silver Dollars.(Registry values: N7079) (NGC ID# 24ZN, PCGS# 6972)

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